Crossword Cybersecurity shares rise 7% as nears breakeven

Crossword Cybersecurity PLC – London-based cyber security and risk technology – Pretax loss narrows to GBP4.1 million in 2023 from GBP4.6 million in 2022, as revenue rises by 15% to GBP4.2 million from GBP3.6 million. Notes that annual recurring revenue stands at GBP2.5 million at year-end, up 65% on a year before. Sees further strong revenue growth in 2024, expecting to be within 10% of its target of GBP7 million, though near the lower end of this range. Crossword expects to reach breakeven on cash and operating earnings on a monthly basis during the second half of 2024.

Current stock price: 5.35 pence, up 7.0% in London on Tuesday morning

12-month change: down 34%

By Tom Waite, Alliance News editor

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